The National Bank has improved its inflation forecast from 18.7% to 14.8% in 2023.
This is stated in the NBU message, Ukrainian News Agency reports.
"Inflation will continue to decline, in particular, due to cheaper energy resources in world markets, restrained domestic demand, as well as the impact of NBU monetary policy. Taking into account the combined effect of these factors and the much better than expected situation in the energy sector, the NBU revised the inflation forecast for 2023 - from 18.7% to 14.8%," the statement said.
The easing of price pressure in the following years will primarily contribute to the reduction of security risks, which is the main assumption of the NBU forecast.
Under such conditions, inflation expectations are predicted to improve, and the supply of goods to increase due to the restoration of optimal logistics routes and production capacities.
Given this, the NBU expects inflation to decline to 9.6% in 2024, and to 6% in 2025.
As Ukrainian News Agency earlier reported, in March 2023 consumer prices increased by 1.5%.
In January-March 2023, inflation was 3.0%.
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